IP Group (LON:IPO) Sets New 52-Week High – Here’s What Happened

IP Group Plc (LON:IPO)’s stock price reached a new 52-week high on Tuesday . The stock traded as high as GBX 74.90 and last traded at GBX 73.70, with a volume of 7994173 shares trading hands. The stock had previously closed at GBX 72.60.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the stock. Berenberg Bank reissued a “buy” rating and set a GBX 119 price objective on shares of IP Group in a research note on Tuesday, September 15th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a GBX 110 price target on shares of IP Group in a research report on Wednesday, September 16th. Two analysts have rated the stock with a Buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of GBX 114.50.

IP Group Stock Performance

The company has a market cap of £651.09 million, a price-to-earnings ratio of 10.38 and a beta of 1.27. The stock has a 50 day simple moving average of GBX 68.21 and a 200 day simple moving average of GBX 63.41. The company has a quick ratio of 8.59, a current ratio of 36.57 and a debt-to-equity ratio of 11.90.

IP Group (LON:IPO) last released its quarterly earnings results on Tuesday, September 15th. The company reported GBX 3.53 EPS for the quarter. IP Group had a return on equity of 14.25% and a net margin of 321.64%. As a group, analysts predict that IP Group Plc will post 19.6245031 EPS for the current year.

Insider Buying and Selling at IP Group

In related news, insider Greg Smith acquired 45,000 shares of the stock in a transaction that occurred on Wednesday, August 5th. The stock was purchased at an average cost of GBX 68 per share, for a total transaction of £30,600. Also, insider David Baynes purchased 26,368 shares of the stock in a transaction dated Wednesday, August 5th. The shares were purchased at an average price of GBX 68 per share, with a total value of £17,930.24. Insiders acquired a total of 271,368 shares of company stock worth $18,053,024 over the last 90 days. Insiders own 1.57% of the company’s stock.

IP Group Company Profile

IP Group accelerates the impact of science for a better future. As the most active UK based, early-stage science investor, we develop and support some of the world’s most exciting businesses in deeptech, life sciences and cleantech (led by Kiko Ventures). Through Parkwalk, the UK’s largest growth EIS fund manager, we also back world-changing innovation emerging in leading universities and research institutions. Our specialist investment team combines sector expertise with an international approach.